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The global rubber tracks for defense and security market is apprehended to follow gradual growth over a 10-year forecast period 2017-2027. According to a recently published research report by Future Market Insights, titled “Rubber Tracks for Defense and Security Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment 2017-2027,” the market is poised for a CAGR of 3.9% over the assessment period and will reach US$ 144.5 Mn by 2027 end, up from US$ 98.4 Mn registered in 2017. Volatile rubber pricing scenario is considered to be a predominant factor restraining rubber sales, ultimately affecting the rubber tracks market performance.

North America to Retain Dominance Led by US

North America currently holds the largest market share of over 31%, followed by MEA with a share of over 20% in terms of value. Europe is another key market for rubber tracks for defense and security. In terms of volume, Future Market Insights identifies dominance of EMEA and North America in the global market in 2017. In terms of basis points, North American and Eastern European markets are projected for a considerable gain, whereas all other regions are expected to see a slight decline in near future. North America will reportedly retain the dominance with a promising CAGR of over 5%; Eastern Europe will be a steadily growing market over the next decade.

North America has been dealing with immense pressure due to internal as well as external terrorism since the past few years. This has been detected as a key factor driving the demand for military vehicles within the North American market. Increasing investment of the US Army in battle tanks and other vehicles is predicted to directly boost the sales of rubber tracks in this region, the US being the leading market in this region.

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Top Global Players Based in North America to Maintain Maximum Revenue Shares

As far as North America-based players are considered, Soucy International Inc. has been the global leader and Camso Group is identified to be striving to enter the military vehicle market for rubber band. Soucy has been the largest rubber tracks supplier for leading OEMs and various Ministry of Defense departments over the years. The company concentrates more on strategic collaborations and is likely to capitalize on opportunities presented by end-users operating in snowy areas and deserts. Camso Groups stands out on account of its expertise in designing, engineering, and manufacturing the most mature technology specifically for mission survivability in hostile environments.

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Segmental Outline

By Product Type

Rubber band track

Rubber pin track

By Vehicle Type

Tank

APC

IFV/AIFV

Recons

Others

By Vehicle Payload

8-12 Ton

12-14 Ton

15-45 Ton

Above 45 Ton

By Region

North America

Eastern Europe

Latin America

MEA

Japan

Western Europe

China

India

SEAP Get access to full summary @ https://www.futuremarketinsights.com/reports/rubber-tracks-for-defense-and-security-market